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Fiskars Corporation: Fiskars Group transitions to SaaS-based Direct-to-Consumer services and writes off related intangible digital & IT assets

2025-03-14 14:00

Fiskars Corporation
Press Release
March 14, 2025 at 3 p.m. EET

Fiskars Group transitions to SaaS-based Direct-to-Consumer services and writes off related intangible digital & IT assets

Fiskars Group is strengthening its Direct-to-Consumer (DTC) business by transitioning from its digital platform to SaaS-based services. The shift to SaaS-based services enables Fiskars Group to drive efficiencies and scale DTC more effectively in the long term as well as to enhance its digital capabilities with access to latest technical features.

As part of this transition, the company will make an impairment of EUR 27 million of internally generated intangible assets related to DTC software, encompassing both online and offline channels. The write-off will be reported as an Item Affecting Comparability (IAC) in Q1 2025. The write-off has no impact on the company's comparable EBIT and cash flow and no material impact on financial position.

Fiskars Group remains committed to strengthening its omnichannel DTC presence and will continue to invest in scalable digital solutions that support its growth strategy.

FISKARS CORPORATION

Further information:
Sanna Hellstedt, Director, Investor Relations (interim) and External Communications, tel. +358 40 553 3151

Fiskars Group in brief

Fiskars Group (FSKRS, Nasdaq Helsinki) is the global home of design-driven brands for indoor and outdoor living. Since 1649, we have designed products of timeless, purposeful, and functional beauty, while driving innovation and sustainable growth. In 2024, Fiskars Group's global net sales were EUR 1.2 billion and we had close to 7,000 employees. We have two Business Areas (BA), Vita and Fiskars.

BA Vita offers premium and luxury products for the tableware, drinkware, jewelry and interior categories. Its well-known brands include Georg Jensen, Royal Copenhagen, Wedgwood, Moomin Arabia, Iittala and Waterford. In 2024, BA Vita's reported net sales were EUR 605 million. Already 50% of BA Vita's net sales comes from direct-to-consumer sales, comprising approximately 500 stores and approximately 60 e-commerce sites.

BA Fiskars consists of the gardening and outdoor categories, in addition to the scissors and creating, as well as cooking categories. The brands include Fiskars and Gerber. In 2024, BA Fiskars' net sales were EUR 547 million.